S&P 500 (NYSE:SPY) component Merck & Co Inc. (NYSE:MRK) reported its results for the second quarter. Merck & Co. Inc. is a global research-driven company that develops and manufactures a range of innovative pharmaceutical products to improve human and animal health.
Merck Earnings Cheat Sheet for the Second Quarter
Results: Net income for the drug manufacturer rose to $2.02 billion (65 cents per share) vs. $752.4 million (24 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter.
Revenue: Rose 7.1% to $12.15 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: MRK reported adjusted net income of 95 cents per share. By that measure, the company fell in line with the mean estimate of 95 cents per share. It beat the average revenue estimate of $11.78 billion.
Quoting Management: “Double-digit growth from key products, and successful new product launches in markets worldwide led to Merck’s strong second quarter results,” said Kenneth C. Frazier, president and chief executive officer. “We’re delivering on our promise to grow both the top and bottom lines while continuing our efforts to streamline and transform Merck. By improving the effectiveness and efficiency of our operations and focusing on scientific innovation, we are well-positioned for sustained and profitable growth in the future.”
Revenue has risen the past four quarters. Revenue increased 1.4% to $11.58 billion in the first quarter. The figure rose 19.8% in the fourth quarter of the last fiscal year from the year earlier and climbed 83.9% in the third quarter of the last fiscal year from the year-ago quarter.
The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the first quarter, it topped the mark by 8 cents, and in the fourth quarter of the last fiscal year, it was ahead by 5 cents.
Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Pfizer Inc. (NYSE:PFE), Bristol Myers Squibb Co. (NYSE:BMY), GlaxoSmithKline plc (NYSE:GSK), Sanofi-Aventis SA (NYSE:SNY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), and Novartis AG (NYSE:NVS).
(Source: Xignite Financials)